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Should You Buy Stanley Black & Decker (SWK) Ahead of Earnings?
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Investors are always looking for stocks that are poised to beat at earnings season and Stanley Black & Decker, Inc. (SWK - Free Report) may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.
That is because Stanley Black & Decker is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings — with the most up-to-date information possible — is a pretty good indicator of some favorable trends underneath the surface for SWK in this report.
In fact, the Most Accurate Estimate for the current quarter is currently at $2.65 per share for SWK, compared to a broader Zacks Consensus Estimate of $2.56 per share. This suggests that analysts have very recently bumped up their estimates for SWK, giving the stock a Zacks Earnings ESP of +3.39% heading into earnings season.
Stanley Black & Decker, Inc. Price and EPS Surprise
A positive reading for the Zacks Earnings ESP has proven to be very powerful in producing both positive surprises, and outperforming the market. Our recent 10-year backtest shows that stocks that have a positive Earnings ESP and a Zacks Rank #3 (Hold) or better show a positive surprise nearly 70% of the time, and have returned over 28% on average in annual returns (see more Top Earnings ESP stocks here).
Clearly, recent earnings estimate revisions suggest that good things are ahead for Stanley Black & Decker, and that a beat might be in the cards for the upcoming report.
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Should You Buy Stanley Black & Decker (SWK) Ahead of Earnings?
Investors are always looking for stocks that are poised to beat at earnings season and Stanley Black & Decker, Inc. (SWK - Free Report) may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.
That is because Stanley Black & Decker is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings — with the most up-to-date information possible — is a pretty good indicator of some favorable trends underneath the surface for SWK in this report.
In fact, the Most Accurate Estimate for the current quarter is currently at $2.65 per share for SWK, compared to a broader Zacks Consensus Estimate of $2.56 per share. This suggests that analysts have very recently bumped up their estimates for SWK, giving the stock a Zacks Earnings ESP of +3.39% heading into earnings season.
Stanley Black & Decker, Inc. Price and EPS Surprise
Stanley Black & Decker, Inc. price-eps-surprise | Stanley Black & Decker, Inc. Quote
Why is this Important?
A positive reading for the Zacks Earnings ESP has proven to be very powerful in producing both positive surprises, and outperforming the market. Our recent 10-year backtest shows that stocks that have a positive Earnings ESP and a Zacks Rank #3 (Hold) or better show a positive surprise nearly 70% of the time, and have returned over 28% on average in annual returns (see more Top Earnings ESP stocks here).
Given that SWK has a Zacks Rank #3 and an ESP in positive territory, investors might want to consider this stock ahead of earnings. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Clearly, recent earnings estimate revisions suggest that good things are ahead for Stanley Black & Decker, and that a beat might be in the cards for the upcoming report.
Time to Invest in Legal Marijuana
If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027.
After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%
You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.
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